Summary by Moomoo AI
Meituan announced its earnings reports for the first half of 2024, showing significant growth in both revenue and operating profit. For the six months ended June 30, 2024, revenue reached 155.5 billion RMB, a year-on-year increase of 22.9%; operating profit was 16.5 billion RMB, a year-on-year increase of 98.4%. Net profit for the period was 16.7 billion RMB, a year-on-year increase of 107.8%. Adjusted EBITDA was 23.1 billion RMB, a year-on-year increase of 65.4%. Adjusted net profit was 21.1 billion RMB, a year-on-year increase of 60.4%. The company continues to invest in technological innovation, including autonomous delivery vehicles, drone delivery, and other cutting-edge technology fields. During the period, Meituan repurchased over 80 million shares of Class B shares in the open market.
